S&P: Is Spanish Project Castor the exception or the rule?

Standard & Poor’s Maria Lemos, talks to InfraNews about eight Spanish toll roads concessionaires currently in the process of negotiating compensation and debt recovery for early termination with the government and lenders. Until Project Castor – a submarine natural gas storage facility off the east coast of Spain – terminated last November, the early termination regime remained virtually untested.  As such, while a unique case, Castor has a number of potential  implications for the recovery prospects for investors in Spanish infrastructure concessions.

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